Bankruptcy Ordered Auction- 492 Unit Multifamily Portfolio/ Oakmont

Multi-Family for Sale
Auction
Catylist Listing ID: 30826165
Property Subtypes: Government Subsidized, Low-Rise/Garden
Number of Units: 336 Units
Building Size (RSF): 1 SF
Gross Building Area: See Agent
Sale Price: $1
Unit Price: $0 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Other
Up For Auction: Yes
Auction Type: Absolute
Sealed Bids: Yes
Cap Rate: Undisclosed
Last Updated: 1/13/2023

Overview / Comments

PLEASE VISIT www.beauboxdealroom.com TO ACCESS ALL AVAILABLE INFO!!

Federal Bankruptcy Auction. CASE NO. 22-10082, EASTERN DISTRICT OF LOUISIANA.

6 Multifamily Complexes. All complexes have been vacated. There is a preference to be Affordable Housing/Low Income, but not mandatory. Trustee will entertain separating the portfolio. Bid Procedure and other pertinent data will be added to the Deal Room as they become available. Please visit www.beauboxdealroom.com or call Burden Edmonds for more info.

1) Oakmont Apartments- 3690 Vespasian St., 2200 Westbend Pkwy- 328 Units
2) Cypress Park- 2110 Cypress Acres Dr.- 64 units
3) Forest Park- 2309 6th St- 20 units
4) Liberty Park- 2817 Liberty St- 10 units
5) Washington Place- 2316 Washington Ave- 25 unit
6) Riverview Apartments- 1029 Rev. Richard Wilson Dr, Kenner- 45 unit

All roofs have been fixed and uninhabitable units are currently being gutted.

** Oakmont Apartments endured a fire in November 2022, destroying 4 buildings +/- 60 units. A new appraisal has been ordered and will be posted once complete.**

No LIHTC have been used and are currently available.

Bids are tentatively due March 30th, 2023.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Westbank
Tax ID/APN: 513710702
Percent Occupied: 0%
Area Description: Latest reports show a need for more than 30,000 Affordable Housing units in the Greater New Orleans Area.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,063 133,322 297,451
Median Age: 35.53 36.41 36.41
Households: 8,362 54,528 120,965

Contact

Photograph of Listing Agent

Burden Edmonds

Beau Box Commercial Real Estate Baton Rouge, LA 70808
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.